April 20, 2012

April Showers All Over the Euro

Charlemagne, Charlemagne

AP Photo

LIKE Brussels, with its fickle weather, the euro crisis enjoyed a hint of summer but has now returned to wintry gloom. The sun shone after the European Central Bank took action to avert a credit crunch. Now the storm clouds are blowing in from Spain. Yields on Spanish bonds are rising dangerously, and Italian ones are close behind. Like Spain, Italy will miss its deficit target this year and next. Portugal may also need fresh support

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TAGGED: Europe, Eurozone

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